Mumbai: Capital markets regulator Securities and Exchange Board of India (SEBI) said its board has approved a planned merger with the commodities regulator, while also deciding to increase the number of anchor investors allowed for larger public issuances.
The approval by Sebi's board on Monday was considered a formality after the Finance Ministry had announced earlier this year it would seek the merger of the regulator with the Forward Markets Commission. Sebi chairman U.K. Sinha has previously said he expects to conclude the merger by September.
Sebi also said it would allow additional anchor investors for public issuances in which preferred allocation is set at more than Rs 250 crore, although sales of below that amount would retain the current limit of 25 investors.
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